Devengo (tax accrual point)

The devengo is the moment a tax obligation is born: for VAT, as a general rule, when you deliver the goods or complete the service, not when you get paid. Advance payments are the exception: they trigger VAT at the moment of collection, on the amount actually received.

The practical consequence: an invoice you have issued but not collected still goes into the modelo 303 for the quarter of its accrual, unless you are under the cash accounting scheme (criterio de caja). The accrual date also fixes which VAT rate applies if rates change between the operation and the payment.

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Criterio de caja, RECC (cash accounting VAT scheme)

Operación exenta (VAT-exempt transaction)

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